Vivid Seats Announces Q3 Losses, CEO Transition

Secondary ticketing marketplace Vivid Seats has revealed significant losses in its Q3 2025 results, and has announced the immediate appointment of Lawrence Fey as CEO.

Q3 topline results:

• Marketplace Gross Added Value of $618.1 million, down 29% from $871.7 million in Q3 2024.

• Revenues of $136.4 million, down 27% from $186.6 million in Q3 2024.

• Net loss of $19.7 million, down $28.9 million from net income of $9.2 million in Q3 2024.

• Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $4.9 million, down $29.2 million from $34.1 million in Q3 2024.

CEO transition:

• Vivid Seats has announced that the company’s Chief Financial Officer, Lawrence Fey, will succeed Stan Chia as Chief Executive Officer, effective immediately.

• Chia, who became CEO in 2018, will stay on in an advisory role through December 1, 2025.

• Ted Pickus, Vivid Seats’ Chief Accounting Officer since 2022, has been appointed Interim CFO until a successor is identified.

Cost savings:

• In the wake of the Q3 results, Fey has outlined a doubling of the company’s annualized cost savings target to $60 million, and a simplification of the corporate structure to help maximize operating efficiency.

What they said:

• Lawrence Fey: “Our priorities are clear – we are focused on operating the most efficient platform powered by the best technology and data. Our platform efficiency will allow us to sustainably deliver a unique value proposition to fans through the combined impact of our Lowest Price Guarantee, which we launched late in the third quarter, and Vivid Seats Rewards.”